Can anyone recommend any books or resources for learning how to trade the minis? I've only traded stocks and options so I need to start from square one. Thanks!
I've been trying to develop my own mini scalping system. and from boyd's posts it may sound like it's easy or something. but in my experience it's hard, im still struggling to find an edge with it.
I just wanted to start a new thread aboiut the minis and here it is Could anybody explain to me like a 3yr old : WHAT ARE THE DAYTRADING margins for ES and NQ what is the min move (both point-wise and $$$wise i.e. how much you win/lose with one tick) which one of those two is better for a beginner and which on eis less volatile Thank you sincearly and trade well! Alex
Daytrading margins are dependent upon the broker. Mine will allow me to trade ither the ES or NQ for $1000 (about 25% of overnight) 1 tick in the ES is .25 = $12.50 thus 1 point is $50 1 tick in the NQ is .5 = $10 thus 1 point is $20 I believe that the NQ is more volatile. I would not venture to say theat either is suitable for the begginner, but most people I think lean towards the ES. I am not currently trading either but am refining my approach and hope to start later this week, and I am looking at trading the NQ. Hope this helps.
Kirshenbaum bands use the standard error of linear regression lines of the close to measure market volatility.
I've looked at developing some scalping systems and my small experience mirrors yours. Although I was looking for something like 1-2 pts in ES instead of 2 ticks. I always thought it would be great to develop a mechanical system that grabbed ticks like the method developed by this thread's author. I think it comes down to developing a strategy that focuses on a simple repeatable pattern where there is a high probability of having the move continue in your direction. The smaller the profit target, the higher the % winners needs to be, and commissions become more significant as a % of net profit so there is a tradeoff for that smoother equity curve.
true. the other problem with that are the stops. with a tighter profit target should come very tight stops. otherwise, as you point out, the win percentage must be very very high. I have a good system for low volume/volatility NQ/ES. very high win% and many scalps. does not work when trending, too many stops. not much (read nothing) works all the time. tntneo
look for books about trading Sp index since es is really sp in smaller size, our group trade es, nq live with real time chart post at chart room http://www.talkstox.com/forum/showthread.php?threadid=5 and real time trading call at chat room http://futuresroom.talkstox.com/index.php3 free register so come on down